The Radford Free Press – Page 76 – All life is problem solving.

Economics, Politics / government spending, health care, infrastructure, Republicans, Trump /

Infrastructure? Not So Much

April 6, 2017

In the aftermath of the health care debacle Trump has been busying himself, so we are told, with other big projects. Tax reform is one. A huge infrastructure effort is another. Well, count me as skeptical. There are reasons to question whether either is going to see the light of day any time soon. One […]

Economics / capitalism, central planning, democracy, economic theory, plutocracy, Ronald Coase, shareholder value, theory of the firm /

Firms: Who Knew?

April 4, 2017

One of the controversies buried by contemporary economists in their great cause of advocating market freedoms, is that of the role of central panning. There was a time when economics accomodated controversy. Nowadays it’s arguments are securely contained within the narrow bounds of saltwater versus freshwater type spats that are little more than professional name calling […]

Economics / capitalism, democracy, economic theory, General equilibrium, microeconomics, Milton Friedman /

Impossibilities and The Market Turn

April 4, 2017

One of the least credible aspects of economics, an enterprise that suffers from a credibility problem at the best of times, is that of general equilibrium. Chasing after this mirage comes at a great cost. For one thing it makes economists look more like priests than scientists or even artists. It is an article of faith, […]